Argentina has recently been rocked by the meteoric political rise of Javier Milei, an ultraliberal economist who describes himself as an anarcho-capitalist. Qualified for the second round of the presidential election in Argentina, he shook up the country’s political landscape.
Javier Milei, an outsider in Argentine politics
Until a few years ago, Javier Milei was unknown to the general public. After working for several years as an economics professor and financial analyst, he began to attract media attention through his provocative and critical interventions against the government and the centralized monetary system.
- Anti-system candidate: Milei advocates deregulation, privatization and a complete abandonment of state intervention in the economy.
- Favorable to a free currency: It defends the idea of competition between different currencies on the market, without any being imposed by the State.
- Iconoclastic thinker: His strong and controversial positions earned him the nickname “El Loco” (The Madman) in the local media.
Results of the first round: Sergio Massa creates a surprise
The Argentine Minister of the Economy, Sergio Massa, created a surprise during the first round of the presidential election. He came in first with 36.6% of the votes, ahead of Javier Milei who was favored in the polls. The latter ultimately obtained a little more than 30% of the votes, which will be enough to qualify for the second round against Sergio Massa. Also note that the Conservative Party candidate, Patricia Bullrich, is eliminated at this stage.
Peronism in power resists
The result of the first round marks an important victory for Peronism, a political movement of which Sergio Massa is a part and currently in power. If no one expected his clear arrival in the lead, it seems that Argentine voters have decided to trust the policies already in place rather than the electroshock proposed by Javier Milei.
The choice of Argentines: between status quo and electroshock
For the second round of the presidential election which will take place on October 19, Argentines will have to choose between the representative of the ruling Peronist coalition, Sergio Massa, and the ultra-liberal populist candidate Javier Milei. Two very distinct visions of the economy will then be proposed:
- Sergio Massa: Current Minister of the Economy, he embodies continuity and support for current mechanisms.
- Javier Milei: With a radically different economic program, he proposes to completely break with existing policies for total deregulation.
What impact on the Argentine economy?
One of the big questions of this election is what consequences Javier Milei’s ideas could have if they were applied to the Argentine economy. Some experts fear his proposals could lead to considerable social and financial instability if implemented without precautions. Others see it as an opportunity to liberate the country’s economy and achieve sustainable growth. Only time will tell which candidate will be elected and which path Argentina will follow. However, one thing is certain: Javier Milei has succeeded in creating a shock wave in Argentine politics, launching a debate on the economic and socio-political future of the country which will continue well beyond these elections.
